German consumer confidence is set to continue to fall in September as rising fear of job losses weighed on purchase decisions and damped hopes of robust economic recovery, a closely watched survey showed on Wednesday.
The forward-looking GfK consumer sentiment index fell to -23.6 in September from -21.7 in the previous month. The reading was forecast to drop moderately to -22.
"With the third consecutive decline, consumer sentiment is now definitely in the summer slump," NIM Head of Consumer Climate Rolf Burkl said.
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